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CU System
CU System Briefs (05/12/2011)
* WASHINGTON (5/13/11)--In a lawsuit alleging redlining discrimination in Detroit, the U.S. Department of Justice (DOJ) has reached a settlement with Citizens Republic Bancorp Inc. and Citizens Bank of Flint, Michigan (online.wsj.com May 10). The lawsuit specifically alleged that Citizens violated the Fair Housing Act and Equal Credit Opportunity Act by serving the credit needs of residents of mostly white neighborhoods to a substantially greater extent than it served the credit needs of majority African-American neighborhoods. Thomas Perez, Assistant Attorney General in charge of DOJ's Civil Rights Division, called the settlement “innovative” and noted it may serve as a model in other areas, per the Detroit News. DOJ is involved in 60 cases nationwide involving comparable accusations of discriminatory lending practices, Perez further stated ... * WASHINGTON (5/13/11)--National Credit Union Administration (NCUA) Board Member Michael E. Fryzel along with over 200 other dignitaries and new credit union members attended the grand opening of the Polish & Slavic FCU’s newest branch in Bridgeview, Ill., May 5, NCUA said. The credit union has served the New York and New Jersey area for more than 35 years. Fryzel also marched with the credit union in the annual Polish Constitution Day Parade on Saturday, May 7. Fryzel is the first Polish American to serve on the NCUA Board as a member and (previously) as its chairman … * IOWA CITY, Iowa (5/13/11)--The University of Iowa Community CU (UICCU) has been recognized as one of the top credit unions in the country in terms of its return rates to members (Iowa City Press-Citizen May 6). UICCU was ranked third of 7,491 credit unions nationwide reviewed in 2010 for their Return of the Member measurement (ROM) by Callahan & Associates, an independent research firm. The ROM index attempts to measure the value credit unions provide to their members based on three core components: return to savers, return to borrowers and member service usage …


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